The company reported an adjusted net loss of $0.4 million, or a penny a share, on record revenue of $82 million, a 41% year-over-year increase. The consensus estimate from analysts polled by Thomson Reuters called for a loss of 2 cents a share on revenue of $71.43 million.

Enphase also issued third-quarter revenue guidance that surpassed analysts' expectations. The company expects revenue in the range of $93 million to $98 million, while the consensus estimate calls for $78.26 million.

The stock was up 19.07% to $11.55 at 1:35 p.m. More than 2 million shares had changed hands, compared to the average volume of 401,431. The stock also narrowly missed its 52-week high of $12.19.

Separately, TheStreet Ratings team rates ENPHASE ENERGY INC as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ENPHASE ENERGY INC (ENPH) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."